WEEKLY: Futures rally keeps China 304 stainless prices climbing

Spot prices for 304-grade stainless steel in China's major trading hubs maintained their strong upward momentum during Mysteel's survey period of January 15-21, according to the most recent assessment.

On January 21, Mysteel assessed the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil (CRC) in Wuxi, East China, at Yuan 14,500/t ($2,082/t) in-warehouse and including the 13% VAT, surging by a sharp Yuan 600/t on week. China's stainless steel spot market is showing signs of firming, buoyed by